1. Unemployment in ČR grows to 7.3% in Q4
(http://praguemonitor.com/2010/02/08/unemployment-%C4%8Dr-grows-73-q4)
High-level overview of article:
Unemployment in the Czech Republic grew by 2.9 percentage points year-on-year to 7.3 percent in the last quarter of 2009, and against the previous quarter was 0.3 points higher, the Czech Statistical Office (CSU) announced Friday.
Our take:
We believe unemployment will be a significant factor this year for investment property. See our 2010 Czech Property Forecast second subheading: /www.czechpoint101.com/newsletter/?p=606
2. Czech Foreign trade ends in record surplus in 2009
(http://praguemonitor.com/2010/02/09/foreign-trade-ends-record-surplus-2009)
High-level overview of article:
The Czech Republic’s foreign trade ended with a record Kc153.2bn surplus last year, Kc85.9bn higher than in 2008, the Czech Statistical Office (CSU) announced Monday.
Our take:
This data should give a boost to business sentiment although, as the article points out, the full effect of a reduction in public spending such as the car scrapping programs, needs to be seen in 2010.
3. Czech economy falls by 4.3 pct in 2009 – CSU
(http://www.financninoviny.cz/english/zpravy/czech-economy-falls-by-4-3-pct-in-2009-csu/434355)
High-level overview of article:
Czech gross domestic product (GDP) adjusted for price, seasonal and calendar influences dropped by 4.3 percent year-on-year in 2009. according to preliminary data released by the Czech Statistical Office (CSU) Feb. 12, 2010.
Our take:
Although down a little more than expected, it is the second strongest in the region behind Poland, which has a much stronger internal market.
4. Bank fees in Czech Republic highest in Central Europe
(http://www.financninoviny.cz/english/zpravy/bank-fees-in-czechrep-highest-in-central-europe-press/436583)
High-level overview of article:
Czech bank fees are the highest in Central Europe, the daily Lidove noviny (LN) said today referring to data from the Czech National Bank (CNB) and statements by bank fee experts.
Our take:
We don’t need anyone to tell us this! Our recommendations for bank accounts for personal: www.mbanka.cz or www.rb.cz and for SROs: www.fio.cz.
5. Mortgages get more expensive
(http://www.cbw.cz/article/mortgages-get-more-expensive.aspx)
High-level overview of article:
The era of cheap mortgages is drawing to a close. Potential home buyers are advised to secure a loan in the first half of this year.
Our take:
Fixing has historically rarely been to the benefit of home owners but the time period we are in now, with potentially strong inflation on the horizon, we feel this is a good idea.
Updated/Aktualizováno: July 22, 2014,
